16600 NE 3rd Ave, Miami, FL 33162

Listing Images

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List Price

$1,200,000

PSF

362.32

Cap Rate

6.56%

PPSF

362.32

Lot Size

7,150 SF

Key Highlights

Small-Bay Office/Retail Investment Opportunity – 3,312 SF freestanding building, consisting of four-units of 828 SF each, offers investors or an owner/user the ability to acquire a value-add asset with immediate income in a supply-constrained small-office market.

Significant Value-Add– All tenants occupy month-to-month leases paying significantly below-market rents (~$8-9/SF Net), offering significant upside to increase income by adjusting rents toward current market rates ($23-26/SF Net).

Strategic Location in Dense North Miami Submarket– Positioned in a dense and growing trade area, the property benefits from approximately 22,000 residents within a one-mile radius, comprised of young professionals and working-class families that drive consistent local demand. The ongoing redevelopment of the 163rd Street Mall—featuring new retail, an entertainment-focused amusement center with indoor pickleball courts, and a 20,000-square-foot food hall—is expected to significantly increase foot traffic and enhance long-term growth in the corridor.

Lot Size – Situated on a 7,150 SF lot, the property offers on-site parking with 8 existing spaces with the ability to add roughly 6 more.

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16600 NE 3rd Ave, Miami, FL 33162

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